Roderic Rennison reviews what has happened over the last 12 months in the acquisition of financial planning firms, what has changed for buyers and sellers, the forces of change, and the outlook for the market...
First, some context. Based on the most recent NextWealth analysis, there have been 80 completed sale deals for financial planning firms so far this year compared to 76 in the same period in 2002; the volume is steady, but anecdotally, the average size is smaller. Over the same period, the number of intermediary firm owners looking to sell and/or retire has, according to NextWealth's analysis, increased to 16% from 11%. This is against a backdrop of higher interest rates, and unpredictable stock markets on the back of Covid and Ukraine. The advent of Consumer Duty on 31 July 2023 has also...
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